Euro, GBP open with a gap up
German SPD voting to pursue coalition talks with Merkel’s CDU, Fitch and S&P upgrading respectively Spain and Greece by one notch Friday evening giving the Euro a lift.There’s a 40 pipper there against the USD and some on the crosses.
GBP is underpinned by a relatively mild(-er or -ish) European approach in regards to a “special treatment” trade deal with the UK. We’re trading 1.3890s in the cable up from 1.3845 on Friday.
That’s what I meant in my previous post regarding Cable and EURUSD possibly moving in tandem for a bit .
USD on the other hand smalls off on it own on the US govt shutdown vs JPY, well just back to Friday’s most traded 112.60 zone.
The other mover is USDZAR about 1% lower on Zuma’s ever weakening position. Bloomberg has this on the subject.